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		<title>ODDFPRICE Function</title>
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            <h1>ODDFPRICE Function</h1>
            <p>The <b>ODDFPRICE</b> function is one of the financial functions. It is used to calculate the price per $100 par value for a security that pays periodic interest but has an odd first period (it is shorter or longer than other periods).</p>
            <p>The <b>ODDFPRICE</b> function syntax is:</p>
            <p style="text-indent: 150px;"><b><em>ODDFPRICE(settlement, maturity, issue, first-coupon, rate, yld, redemption, frequency[, [basis]])</em></b></p>
            <p><em>where</em></p>
            <p style="text-indent: 50px;"><b><em>settlement</em></b> is the date when the security is purchased.</p>
            <p style="text-indent: 50px;"><b><em>maturity</em></b> is the date when the security expires.</p>
            <p style="text-indent: 50px;"><b><em>issue</em></b> is the issue date of the security.</p>
            <p style="text-indent: 50px;"><b><em>first-coupon</em></b> is the first coupon date. This date must be after the settlement date but before the maturity date.</p>
            <p style="text-indent: 50px;"><b><em>rate</em></b> is the security interest rate.</p>
            <p style="text-indent: 50px;"><b><em>yld</em></b> is the annual yield of the security.</p>
            <p style="text-indent: 50px;"><b><em>redemption</em></b> is the redemption value of the security, per $100 par value.</p>
            <p style="text-indent: 50px;"><b><em>frequency</em></b> is the number of interest payments per year. The possible values are: 1 for annual payments, 2 for semiannual payments, 4 for quarterly payments.</p>
            <p style="text-indent: 50px;"><b><em>basis</em></b> is the day count basis to use, a numeric value greater than or equal to 0, but less than or equal to 4. It is an optional argument. It can be one of the following:</p>
            <table style="width: 40%">
                <tr>
                    <td><b>Numeric value</b></td>
                    <td><b>Count basis</b></td>
                </tr>
                <tr>
                    <td>0</td>
                    <td>US (NASD) 30/360</td>
                </tr>
                <tr>
                    <td>1</td>
                    <td>Actual/actual</td>
                </tr>
                <tr>
                    <td>2</td>
                    <td>Actual/360</td>
                </tr>
                <tr>
                    <td>3</td>
                    <td>Actual/365</td>
                </tr>
                <tr>
                    <td>4</td>
                    <td>European 30/360</td>
                </tr>
            </table>
            <p class="note"><b>Note:</b> dates must be entered by using the DATE function.</p>
            <p>The values can be entered manually or included into the cell you make reference to.</p>
            <p>To apply the <b>ODDFPRICE</b> function,</p>
            <ol>
                <li>select the cell where you wish to display the result,</li>
                <li>
                    click the <b>Insert function</b> <div class = "icon icon-insertfunction"></div> icon situated at the top toolbar,
                    <br />or right-click within a selected cell and select the <b>Insert Function</b> option from the menu,
                    <br />or click the <div class = "icon icon-function"></div> icon situated at the formula bar,
                </li>
                <li>select the <b>Financial</b> function group from the list,</li>
                <li>click the <b>ODDFPRICE</b> function,</li>
                <li>enter the required arguments separating them by commas,</li>
                <li>press the <b>Enter</b> button.</li>
            </ol>
            <p>The result will be displayed in the selected cell.</p>
            <p style="text-indent: 150px;"><img alt="ODDFPRICE Function" src="../images/oddfprice.png" /></p>
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